RCM Technologies (NASDAQ:RCMT) CFO Sells $96,000.00 in Stock

RCM Technologies, Inc. (NASDAQ:RCMT) CFO Kevin Miller sold 3,000 shares of RCM Technologies stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $32.00, for a total value of $96,000.00. Following the sale, the chief financial officer directly owned 450,600 shares in the company, valued at $14,419,200. The trade was a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

RCM Technologies Trading Up 0.9%

Shares of RCMT stock traded up $0.28 during mid-day trading on Tuesday, reaching $31.07. 121,204 shares of the stock traded hands, compared to its average volume of 56,641. The stock’s fifty day simple moving average is $21.06 and its two-hundred day simple moving average is $20.99. RCM Technologies, Inc. has a 1-year low of $15.29 and a 1-year high of $32.05. The company has a market cap of $218.11 million, a price-to-earnings ratio of 14.52 and a beta of -0.01. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.54.

Analysts Set New Price Targets

A number of brokerages have recently commented on RCMT. Benchmark lifted their price target on RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Zacks Research raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 13th. Weiss Ratings reissued a “hold (c)” rating on shares of RCM Technologies in a research note on Friday, March 27th. Finally, Wall Street Zen raised RCM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, RCM Technologies presently has an average rating of “Buy” and a consensus price target of $36.00.

Hedge Funds Weigh In On RCM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. lifted its stake in shares of RCM Technologies by 40.0% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 136,078 shares of the business services provider’s stock worth $2,782,000 after acquiring an additional 38,872 shares during the period. Meros Investment Management LP lifted its stake in shares of RCM Technologies by 69.0% in the fourth quarter. Meros Investment Management LP now owns 65,951 shares of the business services provider’s stock worth $1,348,000 after acquiring an additional 26,924 shares during the period. Squarepoint Ops LLC acquired a new position in shares of RCM Technologies in the fourth quarter worth approximately $257,000. Barclays PLC lifted its stake in shares of RCM Technologies by 21.1% in the fourth quarter. Barclays PLC now owns 12,717 shares of the business services provider’s stock worth $260,000 after acquiring an additional 2,216 shares during the period. Finally, State Street Corp lifted its stake in shares of RCM Technologies by 3.8% in the fourth quarter. State Street Corp now owns 69,987 shares of the business services provider’s stock worth $1,431,000 after acquiring an additional 2,562 shares during the period. 43.20% of the stock is owned by institutional investors and hedge funds.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.